PUTPROP LIMITED - Update Relating To Putprops Major Tenant
PPR 201501290014A
Update Relating To Putprop’s Major Tenant
PUTPROP LIMITED
Incorporated in the Republic of South Africa
(Registration number 1988/001085/06)
Share code: PPR ISIN: ZAE000072310
(“Putprop” or “the Group”)
UPDATE RELATING TO PUTPROP’S MAJOR TENANT
Shareholders are advised that Larimar Limited (“Larimar”), the major contributor of the Group’s contractual
rental income, has exceeded the credit terms provided for in their lease agreements and their rentals are
currently in arrears.
As a result of discussions held with Larimar’s management, a payment plan has been agreed with effect from
30 January 2015. This payment plan will ensure that all arrears and current rentals effective from 1 February
2015 will be brought back into line with their lease agreements by no later than the end of April 2015.
Shareholders are further advised that Putprop is continuing with its strategy of diversifying its property
portfolio into commercial and retail properties and reducing the risk of its dependence on Larimar. The capital
raising exercise, which was alluded to in the circular to shareholders dated 31 October 2014, will continue as
planned without any change to the strategy or proposed use of funds.
Shareholders will be advised of any further developments in due course.
Johannesburg
29 January 2015
Sponsor
Merchantec Capital
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